"Renewed momentum across the housing market." That's how Katie Lord, Grimes's director of economic development, described the city's 2026 permit numbers to the Business Record in October. The numbers support her. As of Oct. 1, 2026, Grimes had issued 359 building permits, beating the city's previous high of 271 in 2023. That total includes a record 138 permits for townhome construction, and single-family permits were up 70% over 2025 with three months left in the year.
If you're a first-time buyer hoping for an entry-level townhome, or a Grimes family planning to sell a starter home and move up, that headline sounds like more choices. Some of it is. But a building permit records that a structure is going up. It doesn't record whether anyone will be able to buy it, and in Grimes right now, part of the new small-format housing is being built to rent.
A Permit Counts the Building, Not the Deed
The rental side isn't unique to Grimes. The Home Builders Association of Greater Des Moines told We Are Iowa that the metro has averaged just under 1,100 townhome permits a year since 2020, up from just under 700 a year from 2010 to 2019. Dan Knoup, the association's executive director, told the station that investment firms often buy these communities and rent the homes rather than sell them. "We see firms from Dallas and the bigger cities across the Midwest and the coasts, they're injecting money into our market for sure," he said.
That's why the pipeline matters to a buyer. Every new home in Grimes adds to the housing supply. Only some of them add to the supply you can make an offer on. The local planning process doesn't sort them either. Rezonings set density and site plans set building placement, and both happen before anyone announces whether a project will be sold or leased.
Grimes Projects, Sorted by Who Ends Up With the Deed
Here's how the projects in the current pipeline line up, based on what their developers and the city have made public.
Project | Location | What's planned | Sold or leased |
|---|---|---|---|
Hope Timber Villas, Destiny Homes | 1421 NW Timber Lane | Two-story villas, five floor plans | For sale |
Blue Creek Village, Stark Enterprises | 2501 SW 12th Lane | 164 ranch-style homes on 33.79 acres | For rent |
Hope District housing, north end | Off NE 12th Street and NE Beaverbrooke Boulevard | 80 four-plex townhomes and 320 apartments in the 2023 site plan | Set by the developer, not the plan |
Fox Glen & Prairie Heights | Rezoned January 2026 | 10.85 acres zoned for medium-density townhomes, 39.48 acres of single-family lots | Set by the developer, not the rezoning |
Sienna Hills, Solid Ground LLC | 19th Street, western edge of town | About 90 single-family homes | Single-family lots |
Blue Creek Village is the clearest example of the new model. Stark Enterprises, a developer based in Cleveland, announced in August 2026 that land acquisition was complete and the project was fully capitalized. The company expected construction to begin in 2026 and the first homes to be delivered in 2027. It's Stark's first development in Iowa. The homes will average about 1,189 square feet, with one-, two- and three-bedroom plans, attached two-car garages and private outdoor space. Stark also plans a clubhouse, pool, fitness center, pickleball court, dog park and on-site management.
That description could fit a for-sale townhome community. The difference is the business model. Stark's CEO, Ezra Stark, described it in the announcement as "a rental home experience that gives residents the privacy of a single-family home with amenities and convenience of a professionally managed community."
For a household that wants that lifestyle without a down payment, it's a real option. For a buyer counting new Grimes homes as future listings, 164 of them won't be.
Why the Hope District Matters Most
The Hope District, the 200-acre development around the GrimesPlex, is where the number with the biggest effect on Grimes buyers sits. In October, Tim Day of Hope Development & Realty told the Business Record that a 400-door townhome project is underway there, with storm sewer in place and utilities around the perimeter. "It's ready to go," he said. He also said the district has moved more slowly than hoped. "It's developing, just not as fast as one would like," he told the paper.
Four hundred doors is close to three years of Grimes townhome permits at this year's record pace. If those units go up for sale, Grimes gets a large block of new entry-level and downsizing inventory near Chipotle, U.S. Bank, the Tru by Hilton, Orlondo's Pizza and The Outside Scoop. If they're leased, the for-sale townhome market in Grimes looks much tighter than the permit totals suggest. For a buyer, or for an owner thinking about selling a Grimes townhome in the next couple of years, this is the project to keep asking about.
What the For-Sale Side Costs Against the Metro
On the for-sale side, Hope Timber Villas gives a useful price point. On Destiny Homes' community page in late September 2026, the six quick-move-in villas ranged from $295,000 to $335,000. Examples included $295,000 at 1402 NW 3rd Lane, $328,000 at 1421 NW Timber Lane and $335,000 at 1435 NW Timber Lane.
That range sits right around the metro median. The Des Moines Area Association of REALTORS reported a $310,000 median sale price for September 2026, up 1.6% from $305,000 a year earlier. Here's what else that September report showed for the metro:
- Active listings reached 5,028, up 14.2% from 4,403 in September 2025.
- Median days on market rose to 61, from 51 a year earlier.
- Pending sales fell 16.5% from a year earlier, to 939.
- Closed sales rose 4.8% from a year earlier, to 1,207.
These are metro-wide numbers, not Grimes numbers. Still, the direction affects anyone shopping in Grimes. As of September 2026, buyers had more listings to choose from and more time to decide. For a buyer, that means more room to compare a new villa against a resale townhome. For a Grimes family selling a starter townhome to move up, the competition includes new construction priced around the metro median and, soon, a professionally managed rental option for households that would rather lease. Pricing a resale against both of them, instead of against last spring's comps, is what keeps it from sitting.
Questions Worth Asking Before You Tour
The table above changes as projects get approved and break ground, so the most useful habit is to ask about tenure directly. At any new attached-home community in Grimes, ask:
- Are these homes being sold to individual owners, leased by a management company, or both?
- If both, is there a limit on how many units can be rented, and where is that written down?
- What do the covenants and HOA cover, and what are the current dues?
- Is tax abatement available on this property, and for how long?
- If the community is still building out, who owns the unsold units, and could they be sold in bulk later?
Hope Timber Villas, for example, lists covenants, HOA and tax abatement information on its builder page, so those documents are the place to start. This is general information, not legal, tax or financial advice. Have your attorney, tax professional or lender confirm how covenants, HOA rules or abatement apply to the specific home you're considering.
FAQ
Is Grimes adding single-family homes too, or mostly townhomes? Both. Single-family permits were up 70% over 2025 as of Oct. 1, 2026. Sienna Hills alone plans about 90 single-family homes on the city's western edge, which city senior planner Evann Coffey told the Business Record would be "the first of a few developments that will occur out west."
When will Blue Creek Village have homes? Stark Enterprises said in August 2026 that it expected construction to start in 2026 and the first homes to be delivered in 2027. Leasing details will be posted on the company's project announcement channels as development moves forward.
Does the Grimes growth spurt look likely to slow? City officials don't expect it to. "We don't expect that to slow down anytime soon," Lord told the Business Record, pointing to Sienna Hills, Fox Glen, Prairie Ridge and Park Village.
If you're weighing a new Grimes townhome against a resale, or trying to price your current townhome against what's going up down the road, Peter Jones Realty can work through the comparison with you, using honest numbers and no rush. Let's Connect.
